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Changes to some TD credit cards

To the point As of October 30, 2022, some changes will affect some TD credit cards: earning rates, insurance and fees.

TD announced multiple changes to some TD credit cards:

  • TD Rewards
  • Cash back
  • Aeroplan

TD Rewards

TD First Class Travel® Visa Infinite* Card

Of all the TD credit cards, the TD First Class Travel® Visa Infinite* Card has seen the majority of significant changes.

Points program

TD Points become TD Rewards Points. Aside from the naming, here are the changes related to the card’s points program:

Spending Category Currently As of October 30, 2022
Basic 3 points per dollar 2 points per dollar
Travel Purchases made by phone through Expedia For TD 6 points per dollar 8 points per dollar
Travel Purchases made online through Expedia For TD 9 points per dollar 8 points per dollar
Grocery 3 points per dollar 6 points per dollar
Restaurant 3 points per dollar 6 points per dollar
Pre-authorized purchases 3 points per dollar 4 points per dollar

With these new purchase categories (Grocery, Restaurants, Pre-Authorized Purchases), TD is introducing an annual limit of $25,000 in each of these categories.

When your total Purchases exceed $25,000 in a year in each category noted above, you will receive the Base Earn Rate of 2 TD Rewards Points for every $1 in these types of Purchases.

The year starts after your first statement period in January and runs until the end of your statement period the following January.

There continues to be no annual cap on Expedia For TD Purchases.

Our Comment

The change from 3 to 2 points per dollar for all purchases is a significant decrease if you used to pay all your purchases with your TD First Class Travel® Visa Infinite* Card. When using your points for travel through Expedia For TD, it’s a decrease from 1.5% to 1%.

As for Expedia For TD purchases, the decrease is less significant: 8 points per dollar instead of 9. It remains one of the credit cards with the highest return on travel purchases: 4% (8 points per dollar).

However, if you use your TD First Class Travel® Visa Infinite* Card to pay for grocery, restaurant and pre-authorized purchases, you will earn more points than before.

Insurance

Changes related to card insurance:

Insurance Currently As of October 30, 2022
Travel Medical Insurance maximum benefit payable of up to $1,000,000 per insured person per covered trip maximum benefit payable of up to $2,000,000 per insured person per covered trip

The card’s new insurance coverage:

New insurance Details
Mobile Device Insurance Up to $1,000 for eligible mobile devices in the event of loss, theft, accidental damage or mechanical breakdown
Hotel/Motel Burglary Insurance Up to $2,500 per occurrence for eligible personal items belonging to each Cardholder on the Account and eligible family members travelling with the Cardholder
Flight/Travel Delay Insurance Up to $500 per insured person if your flight/trip is delayed for an eligible reason for over 4 hours and 75% of the cost of the trip is charged to your Card.

 

Our Comment

TD has aligned its insurance coverages with the competition. The addition of flight/travel delay insurance is most welcome, given the current situation at airports.

Benefits

New card benefits:

New benefit Details
TD Rewards Birthday Bonus Each year, you will receive a TD Rewards Birthday Bonus (“Birthday Bonus”) on your TD First Class Travel® Visa Infinite* Account, equal to 10% of the total number of TD Rewards Points earned over the 12 months preceding the Primary Cardholder’s birthday, to a maximum Birthday Bonus of 10,000 TD Rewards Points..
TD Travel Credit

You will receive one $100 TD Travel Credit on your first Eligible Travel Credit Purchase posted to the Account in a calendar year.

An Eligible Travel Credit Purchase includes:

  • A Hotel, Motel, Lodging, or Vacation Rental Purchase of $500.00 CAD or more made with Expedia For TD; or
  • A Vacation Package Purchase of $500.00 CAD or more made with Expedia For TD, that includes a Hotel, Motel, Lodging or Vacation Rental booking packaged with a transportation booking.

 

Our Comment

The TD Rewards Birthday Bonus is worth up to 10,000 TD Rewards points ($50). To get the maximum bonus, you will need to earn 100,000 TD Rewards points through your purchases.

For example, if you make $1,000 in monthly grocery purchases (72,000 points per year), $200 in monthly restaurant purchases (14,400 points per year) and $300 in monthly pre-authorized purchases (14,400 points), you’ll reach 100,800 points.

As for the $100 TD Travel Credit, it is more restrictive than other cards like the one on the HSBC World Elite® Mastercard® or the one on the National Bank’s World Elite Mastercard® . Indeed, you’ll have to:

  • use Expedia For TD
  • book accommodation for $500 or more

This does not apply to other types of travel such as flights or car rentals.

However, since this $100 TD Travel Credit works on a calendar year basis, this means that if you get the TD First Class Travel® Visa Infinite* Card in 2022, you will be able to use this $100 TD Travel Credit between October 30 and December 31, 2022. And you’ll have a new $100 TD Travel Credit available on January 1, 2023.

So a TD First Class Travel® Visa Infinite* Cardholder has even more to gain from knowing how Expedia for TD works. Not only can you earn 8 points per dollar (or 4%) for travel, but you can also use this new $100 TD Travel Credit.

Card fees

Changes related to card fees:

Currently As of October 30, 2022
Annual fee $120 for the primary cardholder $139 for the primary cardholder
Our Comment

Most Visa Infinite credit cards have already seen their annual fee increase from $120 to $139. Some will even go up to $150.

With the addition of the $100 TD Travel Credit, the TD Rewards Birthday Bonus and enhanced Card insurance, the $19 increase is justified.

Tip: To avoid paying this annual fee, you can become a TD All-Inclusive Banking Plan holder. You will receive an Annual fee rebate on select TD credit cards (up to $139).

Visual

The visual of the card will be changed:

Visa Infinite Td First Class Travel Card En

Current offers

As a reminder, here is the current exceptional offer for this card:

  • Up to 100,000 points ($500 value for travel)
  • First-Year annual fee rebate

TD Platinum Travel Visa* Card

Points program

TD Points become TD Rewards Points. Aside from the naming, here are the changes related to the card’s points program:

Spending Category Currently As of October 30, 2022
Basic 2 points per dollar 1.5 points per dollar
Travel Purchases made by phone through Expedia For TD 3 points per dollar 6 points per dollar
Travel Purchases made online through Expedia For TD 5 points per dollar 6 points per dollar
Grocery 2 points per dollar 4.5 points per dollar
Restaurant 2 points per dollar 4.5 points per dollar
Pre-authorized purchases 3 points per dollar 3 points per dollar

With the introduction of these new purchase categories (Grocery, Restaurants, Pre-Authorized Purchases), TD is introducing an annual limit of $15,000 for each of these categories.

When your total Purchases exceed $15,000 in a year in each category noted above, you will receive the Base Earn Rate of 1.5 TD Rewards Points for every $1 in these types of Purchases.

The year starts after your first statement period in January and runs until the end of your statement period the following January.

There continues to be no annual cap on Expedia For TD Purchases.

Insurance

The card’s new insurance coverage:

New insurance Details
Mobile Device Insurance Up to $1,000 for eligible mobile devices in the event of loss, theft, accidental damage or mechanical breakdown
Hotel/Motel Burglary Insurance Up to $2,500 per occurrence for eligible personal items belonging to each Cardholder on the Account and eligible family members travelling with the Cardholder

 

Visual

The visual of the card will be changed:

Td Platinum Travel Visa Card En

Current offers

As a reminder, here is the current offer for this card:

  • Up to 50,000 points ($250 value for travel)
  • First-Year annual fee rebate

TD Rewards Visa* Card

Points program

TD Points become TD Rewards Points. Aside from the naming, here are the changes related to the card’s points program:

Spending Category Currently As of October 30, 2022
Basic 1 point per dollar 1 point per dollar
Travel Purchases made by phone through Expedia For TD 2 points per dollar 4 points per dollar
Travel Purchases made online through Expedia For TD 3 points per dollar 4 points per dollar
Grocery 2 points per dollar 3 points per dollar
Restaurant 2 points per dollar 3 points per dollar
Pre-authorized purchases 2 points per dollar 2 points per dollar

Insurance

The card’s new insurance coverage:

New insurance Details
Mobile Device Insurance Up to $1,000 for eligible mobile devices in the event of loss, theft, accidental damage or mechanical breakdown

 

Visual

The visual of the card will be changed:

Td Visa Rewards Card Fr

Current offers

As a reminder, here is the current offer for this card:

Cash back

TD Cash Back Visa Infinite* Card

Insurance

The card’s new insurance coverage:

New insurance Details
Mobile Device Insurance Up to $1,000 for eligible mobile devices in the event of loss, theft, accidental damage or mechanical breakdown

 

Card fees

Changes related to card fees:

Currently As of October 30, 2022
Annual fee $120 for the primary cardholder $139 for the primary cardholder

Visual

The visual of the card will be changed:

Td Visa Infinite Card Cash Back Fr

Current offers

As a reminder, here is the current offer for this card:

Aeroplan

TD® Aeroplan® Visa Infinite* Card

Insurance

Changes related to card insurance:

Insurance Currently As of October 30, 2022
Travel Medical Insurance maximum benefit payable of up to $1,000,000 per insured person per covered trip maximum benefit payable of up to $2,000,000 per insured person per covered trip

Current offers

As a reminder, here is the current exceptional offer for this card:

  • up to 50,000 Aeroplan points
  • First-Year annual fee rebate

Conclusion

Like other institutions before it (BMO or National Bank to name a few), TD has decided to make various changes to its cards.

In terms of TD Rewards points earning, this is partly due to lower interchange fee revenue (the fee charged to merchants for allowing their customers to use a credit card for purchases).

To compensate for this in the eyes of customers, credit card issuers often choose to introduce purchase categories offering more points than before. As always, with changes like this, the winners will be those who take advantage of these different purchase categories by using the right credit card in the right place.

Use our credit card comparison tool to find the card that fits your needs and spending habits!

Td Fr Card Comparator
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